Asian markets were higher in overnight trading with the Hang Seng up 0.37 percent. The Shanghai Composite and Nikkei were still closed for the holidays. Europe is moderately lower and U.S. stocks are down slightly as the euphoria about the fiscal cliff deal begins to fade.

The ADP employment report for December is out and it jumped to 215k, smashing economists expectations for just 140k. However, initial jobless claims was a miss, jumping to 372k last week's 362k reading. Economists were looking for 360k.

Auto sales for December will be out today and analysts polled by Bloomberg are looking for domestic vehicle sales to decline to an 11.7 million annual rate. Total vehicle sales are also expected to ease to a 15.1 million annual rate.